The Estée Lauder Companies Inc. (NYSE: EL) completed its acquisition of DECIEM Beauty Group Inc., a Canadian-based, multi-brand beauty company, on May 31, 2024. Estée Lauder first invested in DECIEM in 2017, became the majority owner in 2021, and recently purchased the remaining interests for approximately $860 million USD (around $1.15 billion CAD) in cash. The total investment over three tranches amounted to around $1.7 billion USD (approximately $2.27 billion CAD), subject to post-closing adjustments.

DECIEM, known as “The Abnormal Beauty Company,” has enhanced Estée Lauder’s skincare portfolio with its ingredient transparency, agility, and innovative multi-brand strategy. DECIEM’s flagship brand, The Ordinary, was a top performer in the skincare industry, ranking highly in markets such as Canada, the U.S., France, Germany, and the U.K.

Fabrizio Freda, President and CEO of Estée Lauder, highlighted the impressive growth and alignment with DECIEM’s mission of reimagining high-quality skincare. Nicola Kilner, Co-Founder and CEO of DECIEM, emphasized the support from Estée Lauder and the talented DECIEM team in maintaining their core values of transparency, quality, and authenticity.

DECIEM, founded in 2013 by the late Brandon Truaxe, includes other brands like NIOD and AVESTAN. The acquisition reflected Estée Lauder’s strategy of building long-term partnerships and leveraging DECIEM’s innovative approach and consumer engagement.